Carrier Global Co. (NYSE:CARR) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its position in shares of Carrier Global Co. (NYSE:CARR) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,017 shares of the company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Carrier Global were worth $2,732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in shares of Carrier Global by 69.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after buying an additional 487 shares in the last quarter. Creative Planning boosted its holdings in shares of Carrier Global by 2.6% in the 3rd quarter. Creative Planning now owns 465,226 shares of the company’s stock valued at $37,446,000 after buying an additional 11,655 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $263,000. Good Life Advisors LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $269,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Carrier Global by 3.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 47,004 shares of the company’s stock valued at $3,783,000 after buying an additional 1,577 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $65.19 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $68.17 and a two-hundred day moving average price of $72.30. Carrier Global Co. has a twelve month low of $53.13 and a twelve month high of $83.32. The company has a market capitalization of $56.61 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, research analysts expect that Carrier Global Co. will post 2.52 earnings per share for the current fiscal year.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, December 20th were issued a dividend of $0.225 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, December 20th. Carrier Global’s dividend payout ratio (DPR) is 14.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CARR. Wells Fargo & Company decreased their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, November 13th. Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective for the company. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.